Bank of Japan raises interest rates to a 17-year high of 0.5% to combat inflation.

The Bank of Japan (BOJ) raised interest rates to a 17-year high of 0.5% in January, amid concerns about inflation and a weakening yen. This marks the second hike since exiting its stimulus program last year. BOJ Governor Kazuo Ueda hints at further increases if wages support stable inflation. The move aims to reach a 2% inflation target, though rates remain negative. The BOJ is also wary of global trade tensions and U.S. inflation risks.

2 months ago
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